Hyundai Motor Workers Plan
Walkouts to Force Pay Raises

By
Seah Park Staff Reporter of THE WALL STREET JOURNAL

Updated June 23, 2004 7:23 pm ET

SEOUL, South Korea -- Unionized workers at South Korea's largest auto maker, Hyundai Motor Co., said they will begin work stoppages Friday to pressure management to accept demands for a double-digit pay raise.

On Tuesday, about 70% of union members voted in favor of a strike after their efforts to win a 10.48% annual wage increase through negotiations failed. The union also is demanding that Hyundai give a bonus payout equivalent to 30% of the company's net profit and that management set aside 5% of net profit to create a...